Every business should review their business “state of affairs” towards the end of each financial year. This process is important to enable you to:
- perform prior year comparisons and budgeting
- determine early if you are going to have a “tax problem”; and
- make sure you are complying with all rules and laws that relate to your business.
This document (accessed by clicking on the link below) contains some important end of year issues to address and details what steps you should take before end of each financial year if you are a business owner.